Workflow Management

Triple A Super uses an interactive workflow system that identifies each step in the administration process.

 

The workflow has two levels:

  • End of Year administration processes and
  • Ongoing Daily administration

 

End of Year Administration

There are 13 steps in the administration process that are used by the fund accountants to manage the completion of administration tasks including the flow of work timeliness  through to Audit and Lodgement of the Taxation return for each fund (where appointed) by Triple A Taxation Services Pty Ltd.

 

Through each stage, a traffic light recognition system is used to display the progress of task and if it has been completed on time. Each stage is time managed and includes a start and completion button that the fund accountant must complete before moving on.

 

Green means it is on time and no issues, Amber-there are issues with the fund and Red signifies it is overdue at that stage of completion with issues.

 

Management of the workflow for every fund is enabled by email transmission to management and clients. The workflow and administration compliance is managed on a daily basis by the administration manager and fund accountant through a console based report that displays visually all traffic lights for all funds under administration. Hovering over the current task status or outstanding queries results in the actual page opening up to display both detail.

 

Time is assigned to each task in the workflow system based on our experience of how long it should take to complete each one. A time allocation in days is assigned for the tasks that are more fluid such as Queries sent to the client and their subsequent return, queries from the Auditor and their subsequent resolution by the client or fund.

 

The resulting time allocation is then dynamically matched against the actual time taken by the fund accountant. This results in a traffic light that denotes if the entire process rather than each particular task is on time.

 

Periodic and Ongoing Administration

This workflow has fewer steps and revolves principally around the quarterly or monthly reconciliation of the fund bank account for a particular fund. Compliance is accomplished through transaction rules and wizard’s that alert the fund accountant to any information outside compliance standards.

 

The workflow reporting displays the last reconciliation carried out and any outstanding issues attached to each fund.

 

Queries are raised to clients from the reconciliation process.